CEC: YSRCP Receives Rs 92 Crore Income Through Electoral Bonds

New Delhi: According to the Central Election Commission (CEC) reports, the YSR Congress Party received Rs 96,25,25,000 Crore in the financial year 2020-21 through electoral bonds. The details have been mentioned in the party website. According to CEC, the party had received Rs 25,000 through subscriptions and Rs 96.25 crore through electoral bonds. The deadline for providing revenue details is October 30.

Electoral bonds were introduced with the Finance Bill (2017). On January 29, 2018, the BJP government notified the Electoral Bond Scheme 2018.

An electoral bond is like a promissory note that can be bought by any Indian citizen or company incorporated in India from select branches of State Bank of India. The citizen or corporate can then donate the same to any eligible political party. The bonds are similar to bank notes that are payable to the bearer on demand and are free of interest. An individual or party will be allowed to purchase these bonds digitally or through cheque.